Tarmarra21
Tarmarra21 Tarmarra21
  • 03-06-2017
  • Mathematics
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A principal of $900 is invested in an account at 8% per year simple interest. What is the total amount of money in the account after 5 years?

A principal of 900 is invested in an account at 8 per year simple interest What is the total amount of money in the account after 5 years class=

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 03-06-2017
Hi there
The formula is
A=p (1+rt)
A future value?
P present value 900
R interest rate 0.08
T time 5 years

A=900×(1+0.08×5)
A=1,260

Hope it helps
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